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InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

Lemonade hits one million customer milestone

4th January 2021

Insurtech start-up Lemonade has announced that it reached more than one million customers in 2020, 1,500 days after its initial launch. This milestone follows the company's recent expansion into France, a move that introduced its artificial intelligence-driven solutions to a third European country. Lemonade has noted how the one million customer ... Read the full article

TypTap expands to six new states

29th December 2020

HCI Group-owned insurtech TypTap has received regulatory approval to write homeowners insurance in the states of Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah. The approvals are part of TypTap’s planned nationwide expansion, which it announced in August. The company, which provides homeowners and flood insurance, had asked Florida insurance ... Read the full article

Digital platform growth an opportunity to close protection gaps: Swiss Re

22nd December 2020

The growing use of e-commerce and digital wallet apps in emerging markets such as India, Indonesia and Malaysia represents an opportunity for re/insurers to make progress in closing protection gaps, Swiss Re says. A new survey by the Swiss Re Institute found that supportive government policies and a COVID-enforced spike in ... Read the full article

Generali, Accenture form tech-focused joint venture

16th December 2020

Generali and professional services firm Accenture have created a joint venture designed to leverage cloud technologies and shared technology platforms, in an effort to accelerate the Italian insurance giant’s digital strategy. In addition to holding a 5% ownership stake in Group Operations Service Platform (GOSP) Accenture will provide the venture with ... Read the full article

B3i adds Türk Reasürans as shareholder in current funding round

16th December 2020

Industry-led blockchain initiative B3i has closed it ongoing Series B funding round with the addition of Turkey domiciled reinsurer Türk Reasürans as a new shareholder This new addition joins alongside further investments from existing shareholders and is seen by B3i as a step forward in its growth plans. B3i now boasts 21 leading ... Read the full article

Embroker launches online service for brokers

14th December 2020

Insurance brokerage Embroker has launched Embroker Access, a new online service that allows retail and wholesale brokers to offer its digital insurance products. The company also announced that its instant management liability package, previously only offered to technology companies, is now available to all private businesses. Matt Miller, Founder & CEO of ... Read the full article

Berkshire Hathaway GUARD selects new commercial fleet telematics program

11th December 2020

Berkshire Hathaway GUARD, a subsidiary of Warren Buffett’s global re/insurer, has selected IMS to provide a new commercial fleet insurance program. TrackMRI (Monitor, React, Improve) is a commercial fleet insurance telematics solution that includes device logistics support, data collection, scoring, fleet behaviour assessment and program analytics. As part of the program, IMS ... Read the full article

B3i and msg partner on distributed ledger tech

10th December 2020

The Blockchain Insurance Industry Initiative (B3i) and msg, a German IT consulting and system integration company, have entered into a strategic partnership to develop reinsurance solutions based on distributed ledger technology (DLT). They will first focus on integrating SAP's and msg's joint solution into B3i’s network and services. Working together, the two ... Read the full article

Lemonade launches in French insurance market

8th December 2020

Insurtech start-up Lemonade has now launched in France, marking the third EU country the company has entered, following a launch in the Netherlands earlier this year, and Germany in June 2019. Lemonade's latest expansion will provide French residents with access to instant renter’s insurance as well as file claims through the ... Read the full article

Concirrus automates digital portfolio management for marine

8th December 2020

Insurtech firm Concirrus has announced that it will automate its digital portfolio management for marine insurance business with a new algorithmically driven underwriting application. The application will focus on high-volume, transactional business, thereby freeing up time for conventional underwriters to focus on more complex risk. “Innovation is solving complex problems within Marine ... Read the full article

Swiss Re’s Kleiterp urges re/insurers to share tech insights

7th December 2020

Fred Kleiterp, Regional CEO for the EMEA region at Swiss Re Corporate Solutions, has expressed optimism about the prospects for the global re/insurance industry if it is able to “work together and share technology to innovate.” Kleiterp noted that re/insurers currently face significant challenges in trying to quantify risks in parts ... Read the full article

Chubb & Nubank launch digital life offering in Brazil

4th December 2020

Global re/insurer Chubb has announced a new digital life offering in Brazil, launched in partnership with digital bank and fintech firm Nubank. The offering, called Nubank Vida, is underwritten by Chubb and will be made available to Nubank’s 30 million customers across Brazil. Basic coverage includes natural or accidental death and funeral ... Read the full article

Canopius partners with Akur8 to enhance pricing process

3rd December 2020

Global specialty insurer and reinsurer, Canopius, has entered into a new partnership with InsurTech Akur8, designed to enhance its digital products' pricing process via the use of Artificial Intelligence (AI). Singed in November 2020, the deal sees Akur8 seal its first partnership in the UK, with a leading Lloyd's of London ... Read the full article

UnderwriteMe names Head of Asia-Pacific

3rd December 2020

Insurtech firm UnderwriteMe has announced the appointment of Paul Hughes to the newly created role of Head of Asia-Pacific. He will be responsible for leading the UnderwriteMe teams in Asia and Australia across all functions. Hughes’ remit includes designing and implementing a strategy for the Asia-Pacific region designed to deliver growth over ... Read the full article

Insurtech Hippo confirms $350mn Mitsui Sumitomo investment

24th November 2020

California-headquartered, homeowners focused-insurtech Hippo has received a $350 million investment from Mitsui Sumitomo, a subsidiary of MS&AD Insurance Group Holdings. As part of the deal, the corporate venture capital fund of MS&AD will join Hippo’s board of directors as an “observer.” Additionally, Hippo and Mitsui Sumitomo plan on signing a reinsurance treaty, ... Read the full article

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